To many, Netflix still holds the title as the superior streaming service. As one of the originals, it holds many shows and movies that entice audiences, and has even begun reaching into games. In the last few years, Netflix has even entered the competitive world of creation, and they’ve done it well. With this information, how could anyone think the powerhouse that Netflix is could ever die?
To answer this question, I present to you the store Blockbuster. Do you remember the last time you saw one? If you’re even old enough to remember, I bet it was pre-streaming services. The world adapts and changes every day, and is Netflix being left behind? With the lockdowns in the last few years due to Covid, many streaming services took it upon themselves to advance much quicker than expected. Disney+, a service which was pretty average pre-COVID, changed into something stronger than most people would expect. With the added advantage of being able to offer streaming of movies essentially right out of the box office, Disney+ has created a name for itself so large that many wouldn’t have expected.
How does this affect Netflix? In a world of competition, Netflix appears to be falling behind. While many of its Netflix Originals are brilliant television and movies, they are no longer putting in the same amount of effort to retain customers. As they’ve recently announced, they are possibly going to charge an additional fee for password sharing with people outside of the main household, on top of raising other normal fees. That’s a deal breaker for many customers, as some do not desire paying over twenty dollars a month for a streaming service. Add on other streaming services, like Disney+ or Hulu, and expenses are quickly rising. In the end, it comes down to which streaming service the consumer believes is best, and Netflix may not always win that vote. Compared to a few years ago, Netflix has much more competition, and they are not handling it as well as they should. In order to keep customers happy and paying, they need to change their business model, and they need to change it quickly, before other streaming services suffocate them and dominate the field.
Photo Credit: The Verge